Rapid Tesla (TSLA) Expansion Hits Speed Bump in Key European Market
Manager Magazin reported that expansion of Tesla in Germany has slowed recently.
The publication also noted that Tesla's share of Germany's electric vehicle (EV) market is about 8 percent through September. About 42 Tesla Model S models have been registered in the country since its launch last August.
Leading the German EV market is Smart, with 142 registrations, Renault Zoe was next at 57, and Nissan's (OTCBB: NSANY) Leaf was third at 55 registrations.
Total EV share in Germany as a whole was just 0.2 percent of the market through September.
Tesla's Jerome Guillen recently commented to Manager Magazin that the company's expansion in Germany has been its biggest challenge yet. He said that consumers have been waiting for the Model S and that the company
must acceleratedeliveries to customers.
Construction of Tesla's Supercharger network in Europe -- running from Munich to Amsterdam -- is still speculated to begin later this year.
Shares of Tesla are down about 0.5 percent.